PSO's subsidiary granted approval as electronic money institution by SBP
MG News | April 09, 2024 at 02:39 PM GMT+05:00
April 09, 2024 (MLN): Pakistan State Oil Company Limited (PSX: PSO)'s subsidiary, Cerisma (Private) Limited has obtained in-principal approval from the State Bank of Pakistan to operate as an Electronic Money Institution (EMI).
PSO's filing on the Pakistan Stock Exchange (PSX) revealed this development today.
It is crucial to note that Cerisma is a non-banking finance company and plans to build e-wallets for consumers and merchants.
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